Notes to SEFA
Accounting Policies: All expenditures included in the schedule of expenditures of federal awards are presented on the basis that expenditures are reported to the respective federal grantor agencies. Accordingly, expenditures are recorded when the federal obligation is determined
De Minimis Rate Used: N
Rate Explanation: The Authority did not use the federal de minimis indirect cost rate of 10 percent on their federal grants for the year ended December 31, 2023. For the year ended December 31, 2023, there were no indirect costs included in the schedule of expenditures of federal awards.